Monday, April 2, 2012

Indices closed UP .40% to .91%......NICE !!!

Indices ignored European Manufacturing data & construction spending in US, focus was on Chinese PMI & US manufacturing data. Indices made new 2012 intraday highs.

S&P 500 high was 1422.38, closed @ 1418.90

RSI is 66.80

CMF is ascending @ 0.279

Internals were :

UP volume led by 3.95 to 1 in NYSE & 2.48 to 1 in Nasdaq

Advancing Stocks led by 3.00 to 1 in NYSE & 2.28 to 1 in Nasdaq

New 52 wk highs expanded again, 154 in NYSE & 109 in Nasdaq

VIX closed UP .9% @ 15.64

Oil closed @ $105.23

Gold closed @ $1679.70

In my portfolio :

Added 110% more ZNGA @ $12.77.

Sold OTEX.....

Portfolio is AMZN,CNQ,JCP,RIMM,RVBD,ZNGA...

Exposure @ 130%

Stocks which were UP 1% or more included CNQ,
CLF,FCX,TCK,TIF,COH,AAPL,VMW,FIO,GG,
AUY,SLW,SU,NTES,FFIV,CRM,MA,VECO,
CIEN......

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, As we are elevated, we need positive news
 to keep this market UP.

A pullback must not surprise anyone. Catalyst could be anything from Fed minutes to Car Sales or you name it. So keep a very close eye on news, which may pull this market down.

I am trading lot differently than before, i have completed 24 trades between Jan 2012 to March 2012, an average of 8 completed trades per month. I was down in 4 completed trades & UP in 20 completed trades. This is my best ratio which i can recall. I am in no hurry to sell when trade is looking negative, but do try to book profit when its there.Some food for thought.

BLOG does NOT give buy or sell.

Saleem

10 comments:

c said...

SALEEM

Yes you do trade differently--but maybe, just maybe I should trade like you! I can $$$$$ make serious money...:):):)

In all seriousness, AMZN looks hot in PM as is APPLE.
Is ZNGA a good one here? I do not know the catalyst!

In Pre market Copper looks good CNBC now says get FCX--they blow hot cold!

UP --good luck with X , AMZN you got the beet

V best to all
C

Stocks100 said...

HI C,

We are all different in terms of trading style. I highlight mine because it seems to be working BETTER this year....just sharing some personal info...for what its worth.

ZNGA was bought purely on technicals ..RSI @ 47.22 even RIMM is higher @ 52.77....

Good luck with your portfolio.

Saleem

c said...

SALEEM

I was offering you the fact that your current style
is awesome.......
Making money is the key.....$$$$$$$

take the money and run :)

c said...

SALEEM

and all
Is amazon to be sold now??

Or do we wait till further upside to come

Stock charts says target is $210

Lets hear it for AMAZON

C

Stocks100 said...

Hi C,

AMZN has resistance around $219 area.....

I am planning to add today sometimes.....

Good luck with your decision.

Saleem

c said...

Saleem

Looks like AMAZON went back down on auto sales news
Are you buying more here

Up
heard some negative news on steels--do not follow it
at all.

Vere best to you all

Stocks100 said...

Hi C,

I am buying AMZN before close....expecting weakness by close...

Saleem

Up said...

C

I expected X to be down today because daily chart of yesterday is overbought. That is why I sold last night and will buy it back today. For AMZN, why worry when chance of upside is greater than down

Up said...

Saleem

Stock worry me the most is RIMM. We should have never break 14 when triangle was breaking to the upside. A scenario I have for this kind of action is funds are getting out by pushing the price up, then getting out slowly.

Stocks100 said...

Hi Up,

RIMM i am holding long term, i am not adding any more shares...just keeping my existing shares..have not sold any....

RIMM is down because of lawsuit by a Dutch company, plus technical weakness for sure....

Saleem